12/22/2014
Russia to bail out Trust Bank with up to $530 million
The central bank also said its Deposit Insurance Agency, responsible for managing crisis-hit lenders, would take over interim supervision of Trust Bank as of Monday.
Legal, Regulation & Compliance
12/21/2014
Swiss National Bank adopts negative interest rate
Switzerland is introducing a negative interest rate on deposits held by lenders at its central bank, moving to hold down the value of the Swiss franc amid turmoil in global currency markets and expectations that deflation is at hand.
12/21/2014
Gold rises on Swiss central bank's move
Gold prices edged higher Thursday after Switzerland's central bank said it would introduce negative interest rates next year and as traders continued to adjust their outlook on US monetary policy.
12/21/2014
Ulster Bank cleared of trying to put viable SMEs out of business
The 75-page report by Irish law firm Mason Hayes & Curran, which was commissioned by Ulster Bank, found that “on the contrary”, the evidence suggests that its “driving policy” was to manage its indebted commercial customers thr
12/20/2014
Banks to shun ECB easy money as regulation bites
LONDON: Banks are likely to increase their bond market borrowing in 2015 despite heavy intervention from the European Central Bank, especially as they start to focus on new regulatory requirements aimed at buttressing their balance sheets
12/20/2014
City watchdog: Take forex rigging fines out of bonuses
Financial Conduct Authority puts pressure on banks to make sure bonus pools reflect currency manipulation fines
12/20/2014
QE addiction has made us too complacent
If and when enthusiasm for extreme monetary policy as the cure for all ills dries up, we don’t have many options left
12/20/2014
German bank sues Ecclestone for 345m euros: report
The Bavarian state bank, who were unavailable for comment on Friday, accuses the British billionaire of bribing one of its executives to influence the 2006 sale of Formula One's rights.
12/19/2014
Austria sues German state bank for 3.5b euros
[VIENNA] A long-running legal tussle between Austria and Bavaria took a new twist Friday as Vienna sued the southern German region's state bank for 3.5 billion euros (S$5.6 billion).
12/19/2014
Russia's Largest Bank Warns Of A 'Full-Scale Banking Crisis'
Evgeny Gavrilenkov, the chief economist at the investment banking arm of Russia's largest lender Sberbank CIB, has warned that actions taken by the Russian authorities to bail out Russia's troubled banking sector could cause a "full-scale b
12/19/2014
Connaught Asset Management directors banned for 16 years
Two directors of Connaught Asset Management have been disqualified as directors for a combined 16 years for allowing the misuse of up to £106 million in investment funds after an investigation by the Insolvency Service.
12/19/2014
British police arrest ex-RBS trader in currency probe-FT
A City of London police spokeswoman declined to comment on the identity of the individual or whether they had been released on bail after questioning, saying only it was an SFO-led investigation.
12/18/2014
European Banks Stress Tests
20% of banks failed “stress tests” conducted by the European Banking Authority to see if they are strong enough to withstand another financial crisis.
12/18/2014
Credit Suisse and GLG settle Desmond court case ‘for £10m’
Media baron Richard Desmond has won a victory over Credit Suisse and hedge fund group GLG after they settled his £42 million court case over what he claimed was an “incomprehensible” financial investment.
12/18/2014
Swiss National Bank will cut interest rate to minus 0.25%
Switzerland's National Bank will bring in a negative interest rate cutting the value of large sums of money left on deposit in the country.
12/18/2014
Julius Baer pares BlackRock product range
The moves comes after the US fund house had gained a dominant share of Julius Baer's shelf space following the Swiss bank's acquisition of Merrill Lynch's wealth business.
12/17/2014
FCA: 50% of wealth managers failing to disclose ongoing charges
The FCA said it was ‘encouraged’ by findings over disclosure of charges and services to clients, despite having to refer one advice firm to enforcement over disclosure failures but added that wealth management firms were still getting it wrong
12/17/2014
Advisers raise concerns over Mas’s retirement directory
Andy Brooks, director at Brooks Wealth Management, questioned how advisers restricted to a certain number of providers can be seen to be giving the full breadth of retirement options.
12/17/2014
Money laundering: Parliament and Council negotiators agree on central registers
The rules would also require banks, auditors, lawyers, real estate agents and casinos, among others, to be more vigilant about suspicious transactions made by their clients.
12/17/2014
EU investment: Juncker's cunning plan
Many countries, including Germany, have delayed infrastructure improvements.